Q&A: How do you start an online consignment business?

Question by lemichele101: How do you start an online consignment business?
I have an idea for an online consignment store. I don’t have many items at this time, so there is no stock yet. What would you suggest as a starting point (besides getting the website set up)? And do you need a business license for an online business?

Best answer:

Answer by TradeMark ExpressI recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box. These 4 sites should get you on your way in terms of what needs to be done (e.g. licenses, permits, taxes, etc.)

Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you’ll inevitably have as well as many you haven’t anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* Too Good to be Threw: The Complete Operations Manual for Resale & Consignment Shops by Kate Holmes
* A Common Sense Entrepreneurial Guide: How to Open & Run a Successful Consignment Shop [DOWNLOAD: PDF] by Nancy L. Nolan
* How to Start and Run an eBay Consignment Business by Skip McGrath
* Specialty Shop Retailing: How to Run Your Own Store Revised by Carol L. Schroeder

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!